Property, Plant & Equipment

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT & EQUIPMENT

The following table summarizes our property, plant and equipment as of March 31, 2015 and December 31, 2014:



Millions of dollars	March 31, 2015			December 31, 2014
Land	$	131		$	142
Buildings	1,558			1,616
Machinery and equipment	7,891			8,182
Accumulated depreciation	(5,801		)	(5,959		)
Property, plant and equipment, net	$	3,779		$	3,981

During the three months ended March 31, 2015, we disposed of $14 million of buildings, machinery and equipment.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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